Apple is now priced as if it is projected to have negative growth

Apple: It’s all about the valuation by Dr. Brad Cornell        Apple is now priced as if it is projected to have negative growth.  Using a discount rate of 9%, which is probably high, if Apple can maintain its current earnings, the value per share comes to $102.  But that ignores net cash.  Apple has net cash of about $26 per share.  That brings the total value to $128.  Not an Ichan like number, but still a good deal more than the market price of $110.  This implies that the market is predicting significant negative growth for Apple….